Karooooo (NASDAQ:KARO) Sets New 1-Year High – Still a Buy?

Karooooo Ltd. (NASDAQ:KARO)’s stock price reached a new 52-week high on Thursday . The company traded as high as $67.53 and last traded at $67.0330, with a volume of 19917 shares. The stock had previously closed at $64.28.

Analyst Ratings Changes

Several brokerages have issued reports on KARO. Zacks Research cut shares of Karooooo from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Roth Capital restated a “buy” rating and issued a $74.00 price target on shares of Karooooo in a report on Friday, July 17th. UBS Group reaffirmed a “buy” rating and issued a $75.00 price target on shares of Karooooo in a research report on Thursday, July 16th. Raymond James Financial increased their price objective on shares of Karooooo from $60.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. Finally, Wall Street Zen raised shares of Karooooo from a “hold” rating to a “buy” rating in a report on Monday, August 17th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Karooooo currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.50.

Karooooo Stock Up 0.2%

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.01 and a current ratio of 1.02. The stock has a market capitalization of $2.08 billion, a PE ratio of 34.11 and a beta of 0.85. The business has a 50 day moving average of $60.04 and a two-hundred day moving average of $52.31.

Karooooo (NASDAQ:KARO) last posted its earnings results on Thursday, July 16th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.08. The company had revenue of $96.26 million for the quarter. Karooooo had a return on equity of 32.03% and a net margin of 17.74%. Analysts predict that Karooooo Ltd. will post 2.41 EPS for the current year.

Insider Buying and Selling at Karooooo

In other news, CEO Isaias Jose Calisto sold 6,202 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $63.50, for a total transaction of $393,827.00. Following the sale, the chief executive officer owned 17,640,700 shares in the company, valued at approximately $1,120,184,450. The trade was a 0.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 277,617 shares of company stock worth $17,840,247 in the last 90 days. 74.73% of the stock is currently owned by insiders.

Institutional Trading of Karooooo

A number of institutional investors have recently bought and sold shares of KARO. Public Employees Retirement System of Ohio purchased a new stake in Karooooo during the 2nd quarter worth approximately $54,000. Bank of America Corp DE increased its stake in Karooooo by 9.5% during the 1st quarter. Bank of America Corp DE now owns 8,798 shares of the company’s stock valued at $438,000 after purchasing an additional 764 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of Karooooo in the first quarter worth $1,015,000. Renaissance Technologies LLC raised its holdings in shares of Karooooo by 1.4% in the first quarter. Renaissance Technologies LLC now owns 27,987 shares of the company’s stock worth $1,395,000 after buying an additional 400 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Karooooo by 35.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 19,259 shares of the company’s stock worth $960,000 after buying an additional 4,999 shares during the period.

About Karooooo

Karooooo Ltd is a global provider of telematics software-as-a-service solutions for vehicle and fleet management. Through its flagship platform, the company delivers real-time GPS tracking, stolen vehicle recovery and driver behaviour analytics, enabling commercial fleets and automotive insurers to optimise operations, increase safety and reduce costs.

Karooooo’s SaaS platform integrates proprietary hardware devices with cloud-based analytics and mobile applications. Customers gain access to live vehicle location data, engine diagnostics, route planning tools and customizable reporting dashboards.